They are doing nothing to keep any present customers happy, by not honouring the HMV gift vouchers, they are still trading, the vouchers have been paid for, so they should honour them.

I have not got any vouchers and have not shopped at HMV for years.

Exactly, if the administrators want the business to be at all viable to sell on they should honour gift vouchers as not doing so will only incense people like me who will boycott HMV altogether if they do maintain any high street presence.